In the international market, gold reached a two-week high on Thursday. Spot gold climbed 0.1 percent to $ 1872.25 an ounce. US Gold Future rose 0.3
In contrast to the current trend of the global market, the domestic market gold and silver prices declined. Gold prices have registered a slight increase at present due to the strengthening of the expectations of the road package in the US economy.
In MCX, the price of gold fell by 0.18 per cent i.e. Rs 88 to Rs 49,360 per ten grams. At the same time, the price of silver fell by 0.77 percent i.e. Rs 516 to Rs 66,784 per kg.
Gold shines in international market
On Friday, the gold spot in Ahmedabad sold at Rs 49442 per ten grams. At the same time, Gold Future sold at Rs 49351 per ten grams. During the initial trade on Friday, 22 carat gold was priced at Rs 48,400 per ten grams in Delhi market, while in Mumbai it was priced at Rs 48,600 per ten grams.
In the international market, gold reached a two-week high on Thursday. Spot gold climbed 0.1 percent to $ 1872.25 an ounce. US Gold Future rose 0.3 percent to $ 1871.70 an ounce.
Gold is expected to rise in the US market
With the possibility of the US economy getting a relief package, gold fell in the global market. However, it can be recorded in the coming times. With the improvement in the US economy, inflation can also increase and investors can increase investment in gold for its hedging.
This can increase its prices. The new US President Joe Biden has taken many decisions on the first day. This has increased the expectation of speed in the US market. With this, the possibility of increase in gold prices is being raised.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.